KANSAS CITY, Kan., June 28, 2013 /PRNewswire/ -- Today, the U.S. Department of Agriculture's Risk Management Agency authorized the Climate Corporation to administer Federal crop insurance policies for the 2014 crop year. "We are excited to expand our offerings to include the solutions provided under the Federal crop insurance program," said David Friedberg, CEO of The Climate Corporation. "Over the last seven years we have invested over $100 million in developing technology that helps U.S. farmers protect and improve their farming profits, and helps crop insurance agents operate more efficiently, increase their income potential and become trusted advisors to their clients. We are excited to extend our industry-leading technology to support Federal crop insurance, enhancing our value to farmers and crop insurance agents alike."
The Climate Corporation will be offering the Federal crop insurance program enhanced by unique technology that allows agents and growers to assess risk and make optimal coverage decisions and to track crop and policy performance in near real-time during the growing season, using simplified reporting and proactive claims management tools. Additional unique technology-enhanced features will be released to authorized agents in the coming months.
OneBeacon Insurance Group, an A.M. Best "A" rated carrier with $1 billion of surplus, through its wholly-owned Atlantic Specialty Insurance Company, has partnered with The Climate Corporation on its offering, ensuring the policies carry the financial strength that farmers have come to expect. The Climate Corporation's crop insurance operations are run from its Kansas City office and supported by field personnel covering 30 states: AL, AR, CA, CO, FL, GA, IA, ID, IL, IN, KS, KY, LA, MI, MN, MO, MS, MT, NC, ND, NE, OH, OK, PA, SC, SD, TN, TX, WA, WI.
The Climate Corporation is in the process of finalizing its agent authorization for the 2014 crop year. "Agents have told us that we already bring the best technology to crop insurance, as evidenced by our climate.com and our Total Weather Insurance® product offerings," said Jeff Mize, SVP of Sales and Business Development. "We are now delivering technology that can substantially improve our crop insurance agents' operations, and provides every farmer with our unique full-stack risk management solution." Agents interested in learning more can visit www.climate.com.
About The Climate Corporation
The Climate Corporation aims to help farmers around the world protect and improve their farming operations with uniquely powerful software and insurance products. The company's proprietary technology platform combines hyper-local weather monitoring, agronomic data modeling, and high-resolution weather simulations to deliver climate.com, a SaaS solution that helps farmers improve their profits by making better informed operating and financing decisions, and Total Weather Insurance, an insurance offering that pays farmers automatically for bad weather that may impact their profits. The company is also an authorized provider of the U.S. Federal crop insurance program, enabling authorized independent crop insurance agents to provide farmers with the industry's most powerful full-stack risk management solution. In the face of increasingly volatile weather, the global $3 trillion agriculture industry depends on the company's unique technologies to help stabilize and improve profits and, ultimately, help feed the world. For more information, please visit http://www.climate.com or follow the company on Twitter @climatecorp.
SOURCE The Climate Corporation